Wesbanco Bank Inc. bought a new stake in Watts Water Technologies Inc (NYSE:WTS) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,756 shares of the technology company’s stock, valued at approximately $525,000.
A number of other large investors also recently added to or reduced their stakes in WTS. BlackRock Inc. boosted its holdings in Watts Water Technologies by 12.7% in the fourth quarter. BlackRock Inc. now owns 3,978,819 shares of the technology company’s stock valued at $302,190,000 after purchasing an additional 448,313 shares during the period. JPMorgan Chase & Co. boosted its holdings in Watts Water Technologies by 119.0% in the first quarter. JPMorgan Chase & Co. now owns 181,609 shares of the technology company’s stock valued at $14,111,000 after purchasing an additional 98,688 shares during the period. Deutsche Bank AG boosted its holdings in Watts Water Technologies by 32.1% in the fourth quarter. Deutsche Bank AG now owns 336,741 shares of the technology company’s stock valued at $25,572,000 after purchasing an additional 81,845 shares during the period. American Century Companies Inc. purchased a new position in Watts Water Technologies in the first quarter valued at $5,051,000. Finally, TIAA CREF Investment Management LLC boosted its holdings in Watts Water Technologies by 52.9% in the fourth quarter. TIAA CREF Investment Management LLC now owns 184,397 shares of the technology company’s stock valued at $14,005,000 after purchasing an additional 63,766 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.
A number of research analysts recently issued reports on the company. Oppenheimer reiterated a “hold” rating on shares of Watts Water Technologies in a report on Thursday, May 3rd. Robert W. Baird lifted their target price on Watts Water Technologies to $80.00 and gave the company a “neutral” rating in a report on Monday, May 7th. Zacks Investment Research lowered Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Monday, March 19th. Boenning Scattergood lowered Watts Water Technologies from an “outperform” rating to a “neutral” rating in a report on Wednesday, March 21st. Finally, ValuEngine lowered Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Friday, April 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $81.40.
Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Thursday, May 3rd. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.03. The company had revenue of $378.50 million during the quarter, compared to the consensus estimate of $365.01 million. Watts Water Technologies had a return on equity of 13.26% and a net margin of 5.35%. Watts Water Technologies’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 EPS. equities research analysts expect that Watts Water Technologies Inc will post 3.69 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 1st were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.06%. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, May 31st. Watts Water Technologies’s payout ratio is 27.81%.
In other Watts Water Technologies news, insider Elie Melhem sold 3,449 shares of Watts Water Technologies stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $77.11, for a total transaction of $265,952.39. Following the completion of the sale, the insider now directly owns 27,519 shares of the company’s stock, valued at approximately $2,121,990.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by insiders.
Watts Water Technologies Profile
Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
Want to see what other hedge funds are holding WTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Watts Water Technologies Inc (NYSE:WTS).
Receive News & Ratings for Watts Water Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watts Water Technologies and related companies with MarketBeat.com's FREE daily email newsletter.